The US has announced that it will be easing sanctions on Russia, allowing the country to release hundreds of thousands of tons of diesel fuel onto the global market. This move is aimed at bringing down the record-high diesel prices that have been caused by escalations in the Russia-Ukraine war.
What happened
President Donald Trump announced that Russian President Vladimir Putin would immediately release diesel fuel onto the global market, which would help bring down diesel prices. The Treasury Department also announced that it would be issuing a temporary general license to allow the supply of Russian diesel to the global market.
The easing of sanctions comes after diesel prices have soared almost 70% since the start of the year, with sharp escalations in the Russia-Ukraine war causing prices to spike even further. The Kremlin had imposed a diesel fuel export ban in July, which has been extended through the end of October.
Ukrainian President Volodymyr Zelenskyy has criticized the move, describing it as an
